My Net Fone Limited (MNF)
Views and News
Smaller telco with advanced technology
Founded in 2004 and listed on ASX mid 2006, MyNetFone grew from newcomer to an independent peer to Tier 1 incumbents in under a decade, by building its own network and interconnecting with incumbent carriers.
MNF now claims the largest VoIP network in Australia carrying, over 3 billion billed voice minutes. Its group brands span network infrastructure, software platform development & direct retail brands, focused on migrating consumers to new voice communications technology.
Retail brands are CallStream, for small business 13/1300/1800 and cloud-based inbound call services; ConneXus, a business and corporate specialist in multi-site and intensive data services and hosting; and MyNetFone for large-scale Virtual PBX and carriage and also serving over 90,000 residential VoIP and DSL services.
Symbio Networks provides wholesale carriage and extensive hosted services; it owns carrier grade networks in Australia, NZ and Singapore that interconnect with over 20 Tier 1 providers.
Recent News Highlights
As at 27/11/2013 : see details at www.mynetfone.com.au
| 27/11/2013 Business Update - Acquisition & Guidance Update |
Half-yearly Performance & Estimates - MNF
| Year-end June | FY11A | 1H12A | FY12A | 1H13A | FY13A | FY14E | FY15E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 13.7 | 19.1 | 38.3 | 18.4 | 46.3 | 63.0 | 68.0 |
| EBITDA, $m | 1.00 | 1.0 | 4.4 | 1.9 | 6.0 | 8.9 | 9.9 |
| EBIT, $m | 0.96 | 0.86 | 4.0 | 1.7 | 5.3 | 8.1 | 8.9 |
| Report NPAT, $m | 1.1 | 0.93 | 3.1 | 1.5 | 4.2 | ||
| Adj. NPAT, $m | 4.2 | 5.8 | 6.4 | ||||
| Reported EPS, ¢ | 2.00 | 2.00 | 5.00 | 3.00 | 7.00 | ||
| Adjusted EPS, ¢ | 7.00 | 9.00 | 10.00 | ||||
| EPS %FY/Growth | 40% | 150% | 43% | 40% | 29% | 11% | |
| Dividend, ¢ | 1.3 | 0.80 | 2.3 | 1.5 | 3.5 | 5.00 | 5.00 |
| Franking, % | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| EBITDA Margin | 7% | 0 | 11% | 10% | 13% | 14.1% | 14.6% |
| NPAT Margin | 7% | 0 | 8% | 8% | 9% | 9.2% | 9.4% |
| ROE, % | 2.6 | 0 | 1.2 | 17 | 38% | ||
| EBIT/Interest | -11.0 | 0.0 | -32.5 | -21.13 | -51.25 | ||
| Net Debt / Equity | -6.35 | 0 | -2.34 | -0.26 | -0.42 | ||
| CashFlow/Sh, ¢ | 2.3 | 2.1 | 7.1 | 2.5 | 10.3 | 1,160 | 1,230 |
| Y/E Shares, m | 52.6 | 52.6 | 55.3 | 62.0 | 62.3 |
| Notes |
| Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns, except 1H11A and 1H12A which show the first half % of full year EPS. In a handful of cases, unadjusted share splits may give strange changes in ratios. |
Company Overview
MNF is a leading provider of hosted voice and data communications services for residential, business and enterprise users. It has been profitable since 2009 and paid dividends six-monthly since September 2010.
MNF has won many awards for its technology and products and has been a member of the Deloitte Technology Fast 50 in 2008, 2009, 2010, 2012 and 2013.
Profile
My Net Fone
Rating:
Category: Spec Stock ; Midcaps
Action:
Website: www.mynetfone.com.au
| ASX code: | MNF |
| Closing Price, 30/12/2013: | $ 1.780 |
| Market Capitalisation: | $ 111 million |
| 52 Week High: | $ 1.81 |
| 52 Week Low: | $ 1.03 |
| Sector: | Telecommunication Services |
| Index: | S&P/ASX Index |
Summary of Fundamentals
| Year-end June | FY12A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | 3.1 | 4.1 | 5.5 | 6.4 |
| Reported EPS, ¢ | 5.00 | 7.00 | ||
| Adjusted EPS, ¢ | 7.00 | 8.65 | 10.55 | |
| EPS Growth, % | 150% | 40% | 24% | 22% |
| P/E Ratio, x | 35.60 | 25.43 | 20.58 | 16.87 |
| Dividend, ¢ | 2.3 | 3.5 | 4.55 | 5.50 |
| Franking, % | 100% | 100% | 100% | 100% |
| Div. Yield, % | 1.29 | 1.97 | 2.56 | 3.09 |
Notes
| Our Adjusted EPS is used for the last year and forward estimates and as basis for EPS Growth and P/E Ratio. We currently use Reported data for all historic NPAT, for the prior year EPS and as base for last year EPS growth. |
| Data & Chart sourced from IRESS Market Technology Ltd. |
One Year Chart
As at 30 December 2013
Other Highlights
| Sector: | Telecommunication Services |
| Return on Equity, FY13 : | 38% |
| Net Debt to Equity, FY13 : | -42 % |
| EBIT / Interest Cover, FY13 : | -51.25 x |
| Gicscode: | 50100000 |
| First Listed: | 18-May-06 |
Business Activities
My Net Fone Limited (MNF) provides VoIP and cloud focused telecommunications for retail (CallStream, ConneXus & MyNetFone brands) and wholesale (Symbio hosted services) in Australia with linkages into Singapore and New Zealand
Glossary:
| ♠ | "A Core Stock" - reliable long-term yield & growth |
| ♥ | "We like it" - a seasoned performer, growth & yield |
| ♦ | "A tough scout" - creating a potential breakthrough |
| ♣ | "A steady performer" - giving reliable yield or growth |
| Best Stocks | Portfolio of selected attractive investments |
| Potential | Stocks that may have good improvement prospects |
| Speculative | More risky usually smaller stocks with spec. upside |
| Midcaps | In RR Midcap Index, $ 70m to 1,500m market cap. |
| Large Stocks | Larger Stocks upwards of $ 1,500m market cap |